Phillips 66 Partners Technical Analysis (NYSE:PSXP)
Technical analysis is based on the study of past price and volume movements of a security with the help of technical stock charts or trading charts. Just by looking at the Phillips 66 Partners stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the PSXP stock chart which creates a trading signal.
See Phillips 66 Partners bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Phillips 66 Partners stock analysis.
Phillips 66 Partners Moving Average
Moving averages help predict the price direction of PSXP stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for Phillips 66 Partners are mostly signals of long term trends and will help long term traders.
Phillips 66 Partners Bollinger Bands
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the PSXP stock. The stock price is trading between the average and the lower band in the context of Phillips 66 Partners bollinger bands.
Phillips 66 Partners Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps gauge the stock price trend, as the indicator is useful in understanding the strength, direction and momentum of the stock price. The Phillips 66 Partners MACD indicator is below 0 indicating a bearish trend.
Phillips 66 Partners Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. The relative strength index of PSXP stock is 34.81.